Standalone figures
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Margins | ||||||||
| Gross margin % | 78.1% | 79.2% | 77% | 79% | 80.1% | 76.1% | 76.6% | 77.4% |
| EBITDA margin % | 9.2% | 14.2% | 13.7% | 10.2% | 4.9% | 9.5% | 7.6% | 11% |
| EBIT margin % | 5.8% | 11% | 10.1% | 6.5% | 1.4% | 5.8% | 3.6% | 7.5% |
| PAT margin % | 3.1% | 6.7% | 9.7% | 4.2% | 0.8% | 3.5% | 2.5% | 4.6% |
| Working capital | ||||||||
| Receivable days | 16 | 14 | 16 | 17 | 15 | 15 | 15 | 15 |
| Inventory days | 222 | 215 | 212 | 219 | 255 | 175 | 170 | 207 |
| Payable days | 160 | 131 | 142 | 173 | 193 | 138 | 148 | 151 |
| NWC days | 78 | 98 | 86 | 62 | 77 | 52 | 37 | 71 |
| Leverage | ||||||||
| Current ratio | — | — | 1.58 | 1.59 | 1.34 | 1.21 | 1.1 | 1.29 |
| Debt to EBITDA | 3.99 | 1.95 | 2.05 | 2.42 | 3.69 | 1.55 | 1.93 | 1.39 |
| Debt to equity | 0.38 | 0.3 | 0.26 | 0.23 | 0.19 | 0.15 | 0.13 | 0.14 |
| Interest coverage | 1.9 | 3.3 | 4.3 | 4 | 1.7 | 3.6 | 2.7 | 6 |
| Asset turnover | 0.57 | 0.6 | 0.56 | 0.57 | 0.66 | 0.66 | 0.6 | 0.64 |
| Return ratios | ||||||||
| Return on assets % | 1.8% | 4% | 5.4% | 2.4% | 0.6% | 2.3% | 1.5% | 2.9% |
| Return on capital employed % | — | — | 8.3% | 5.8% | 2.6% | 5.6% | 3.6% | 6.8% |
| Return on equity % | 3.2% | 7.1% | 8.9% | 3.9% | 0.9% | 3.5% | 2.2% | 4.3% |
Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.